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作者：Montalban, Jose
作者单位：Stockholm University
摘要：Using a unique reform in the Spanish financial aid program, I estimate the impact of need-based grants on student achievement and dropout decisions under different intensities of academic requirements. Utilising comprehensive administrative data from a large university, I exploit sharp discontinuities in the grant eligibility formula to identify the effect of aid on student outcomes. I find that aid eligibility has no effect on student outcomes when the academic requirements are comparable wit...
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作者：Kiessling, Lukas; Norris, Jonathan
作者单位：Max Planck Society; University of Strathclyde
摘要：This paper studies how peers in school affect students' mental health. Guided by a theoretical framework, we find that increasing students' relative ranks in their cohorts by one standard deviation improves their mental health by 6% of a standard deviation conditional on own ability. These effects are more pronounced for low-ability students, persistent for at least 14 years and carry over to economic long-run outcomes. Moreover, we document a pronounced asymmetry: Students who receive negativ...
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作者：Severnini, Edson
作者单位：Carnegie Mellon University; IZA Institute Labor Economics; National Bureau of Economic Research
摘要：This paper evaluates large-scale hydroelectric dams built in the United States during the twentieth century. Combining panel event-study designs and synthetic control methods, two results stand out. First, dams constructed pre-1950 spurred short-run local growth, in large part thanks to a 'cheap-local-power advantage', and resulted in remarkable long-run growth, more than doubling local population density after 50 years. Second, dams constructed post-1950 had only modest effects on growth. The...
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作者：Ciani, Emanuele; Delavande, Adeline; Etheridge, Ben; Francesconi, Marco
作者单位：European Central Bank; Bank of Italy; University of Technology Sydney; Universidade Nova de Lisboa; University of Essex
摘要：We examine how workers' expectations about pension reform vary with proximity to reforms, information availability and worker characteristics. Using newly collected data, we find that (1) expectations about reform are revised upward by about 10 percentage points in the year prior to a reform, from a median of 50%, regardless of whether the reform is announced; (2) expectations increase more the stronger the media activity about imminent reforms; (3) the effect of information on expectations va...
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作者：Ater, Itai; Elster, Yael; Genesove, David; Hoffmann, Eran B.
作者单位：Tel Aviv University; Centre for Economic Policy Research - UK; Hebrew University of Jerusalem
摘要：We study residential lease payments during the COVID-19 pandemic. A survey of Israeli renters shows that nearly one in eight did not pay full rent during the first lockdown in March-April 2020. These households held back two-thirds of their contractually due rent on average. Financially fragile households with large income cuts withheld a greater share. Both formal and relational aspects of the landlord-tenant relationship affected payments: tenants paid more of their rent if their leases incl...
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作者：Ciccone, Antonio; Papaioannou, Elias
作者单位：University of Mannheim; Center for Economic & Policy Research (CEPR); University of London; London Business School
摘要：Cross-industry cross-country models are used to address a wide array of questions in economics. They do so by analysing how the economic performance of industries in different countries depends on an interaction effect between industry and country characteristics. As the relevant industry characteristics are unobservable in most countries, they are approximated by industry characteristics in a benchmark country. We show that this approach generally yields biased estimates of the industry-count...
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作者：Camous, Antoine; Matveev, Dmitry
作者单位：University of Mannheim; Bank of Canada
摘要：How should independent central banks react if pressured by fiscal policymakers? We contrast the implications of two monetary frameworks: one, where the central bank follows a standard rule aiming exclusively at price stability against the other, where monetary policy additionally leans against fiscal influence. The latter rule improves economic outcomes by providing appropriate incentives to the fiscal authority. More importantly, the additional fiscal conditionality can enhance the credibilit...
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作者：He, Haoran; Neumark, David; Weng, Qian
作者单位：Beijing Normal University; University of California System; University of California Irvine; Renmin University of China
摘要：We explore the impact of wage offers on job applications, testing implications of the directed search model and trying to distinguish it from random search. We use a field experiment conducted on a Chinese job board, with real jobs for which we randomly vary the wage offers across three ranges. We find that higher wage offers raise application rates overall, which is consistent with directed search, but can also arise with random search. We also find that higher wage offers raise application r...
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作者：Buggle, Johannes C.; Vlachos, Stephanos
作者单位：University of Vienna
摘要：This paper examines the effect of campaign appearances in the context of the one-sided nationwide tour by William J. Bryan, the Democratic US presidential candidate in 1896. During this electoral campaign, Bryan undertook an unprecedented whistle-stop train tour, while the Republican candidate followed a front-porch campaign. To identify the causal effect of campaign speeches, we exploit several estimation strategies, including a within-county difference-in-differences design and a neighbour-p...
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作者：Parraga Rodriguez, Susana
作者单位：Banco de Espana
摘要：This paper analyses the causal effect of changes in public pensions on household spending. The identification exploits the introduction of a new welfare system in Spain during the 1980s and 1990s, and uses a novel narrative series of legislated pension changes as an instrument for pension income. Despite public pensions having a limited impact in the aggregate, I find a high, though less than unity, marginal propensity to consume for pensioners due to permanent income shocks at the household l...
